Family Tax Benefit

Foreign income for family assistance

Foreign income can affect how much Family Tax Benefit and Child Care Subsidy you get.

What foreign income is

It includes any income you and your partner earn, or get from outside Australia.

This may include:

  • foreign employment income 
  • overseas pensions
  • gifts or allowances of money you get regularly including money or gifts from relatives living overseas, and
  • income from foreign business interests or investments 

We include foreign income as part of your adjusted taxable income.

How it affects family assistance

You must include any foreign income you expect to get in your family income estimate.

Your estimate must:

  • be in Australian dollars, and
  • cover the income you expect for the Australian financial year, which runs from 1 July to 30 June

We use this estimate to work out how much family assistance you can get. This includes Family Tax Benefit and Child Care Subsidy.

The way it affects your family assistance depends on if it’s taxable or not.

If you’re not sure if your foreign income is taxable in Australia, contact the ATO.

If you don’t pay tax on it

If you don’t pay Australian tax on foreign income you get, you must include it. List it as foreign income in your family income estimate.

Tax exempt foreign income

This is income you earn while overseas in foreign service or on an approved project for 91 days or more.

This can include income you earn if you’re:

  • a member of the armed services serving overseas, or
  • on an overseas project approved by the Minister for Trade, Tourism and Investment  

You shouldn’t include this income in your family income estimate.

If you pay tax on it

If you pay Australian tax on foreign income you get, you must still include it. List it as taxable income in your family income estimate.

If you can’t access it from Australia

We don’t count your foreign income if you can’t access it within Australia. You don’t need to include it in your family income estimate.

If you visit a country where you can access it, you must list it as foreign income in your family income estimate. We will then reassess your payment rate.

What exchange rates we’ll use

We use the exchange rate from 1 July each year. These are the rates we apply when calculating your income for that financial year.

Exchange rates for 2018-19

We’ll use these rates for the 2018-19 Australian financial year.

Currency Rate
Canadian Dollar 1.0172
Danish Kroner 5.0916
English Pound 0.5936
European Currency Unit 0.6726
Hong Kong Dollar 6.0979
Japanese Yen 86.9800
New Zealand Dollar 1.1323
Norwegian Kroner 6.5407
Singapore Dollar 1.0675
South African Rand 10.5727
Swedish Kronor 7.0199
Swiss Franc 0.8245
Thai Baht 25.9600
US Dollar 0.7832

Exchange rates for 2017-18

We’ll use these rates for the 2017-18 Australian financial year.

Currency Rate
Canadian Dollar 1.0416
Danish Kroner 5.3458
English Pound 0.6220
European Currency Unit 0.7085
Hong Kong Dollar 6.3193
Japanese Yen 91.8900
New Zealand Dollar 1.0969
Norwegian Kroner 6.9658
Singapore Dollar 1.1236
South African Rand 10.3408
Swedish Kronor 6.9033
Swiss Franc 0.8252
Thai Baht 27.6500
US Dollar 0.8159

If you need the rate for a currency that we don't list above,  please call the families line.

How foreign income affects other payments

We assess income from outside Australia differently for our other payments and services.

Page last updated: 20 August 2018